Union Bank Of India, Mumbai, Maharashtra is seeking an external professional firm to conduct an independent review of its Audit & Inspection Department

Union Bank Of India, Mumbai, Maharashtra
Union Bank of India is seeking an external professional firm to conduct an independent review of its Audit & Inspection Department.
The review will evaluate governance, risk-based audit planning, audit execution quality, staffing, performance indicators, and overall effectiveness.

Eligibility Criteria (Brief Summary)

The detailed eligibility list is in Annexure C of the RFP. Based on the main text:

               1.      Only bidders who meet all eligibility criteria can participate.

               2.      Supporting documents must be submitted with the Technical Bid.

               3.      Consortium bidding not allowed.

               4.      Eligibility includes (from scoring & general conditions):

·         Grade–I CA firm with minimum 15 years experience

·         Number of partners (1 mark for each partner)

·         Experience of similar audit for other banks

·         SCA experience in PSBs after 2005

Bid Security / EMD

·         Amount: ₹1,00,000 (Rupees One Lakh)

 Project Duration & Penalties

·         Project completion required within 15 working days.

·         Penalties for delay:

o    10% (delay 15–30 days)

o    50% (delay beyond 30 days)